1. (a) Except as otherwise provided by state law, by these rules or by resolution of the Authority, the staff, with the approval of the commissioner of agriculture, the deputy commissioner of agriculture or the official of the department designated by the commissioner of agriculture as being responsible for the department's agricultural finance programs, shall have the authority to act on behalf of the Authority, without specific Authority approval, in regard to collection, settlement and enforcement of each and every financing approved by the Authority under this program. Such authority shall include, without limitation, the actions required to be taken by the Authority under any loan agreement, any participation agreement and any other agreement entered into by the Authority concerning a loan approved by the Authority under this program.
2. (b) Nothing in this section shall prevent the staff or the commissioner of agriculture, deputy commissioner, or official of the department designated by the commissioner of agriculture from submitting any matter to the Authority Board for its consideration and approval.

Source Note:The provisions of this §24.16 adopted to be effective June 16, 1995, 20 TexReg 4047; amended to be effective July 1, 1996, 21 TexReg 5685.